Summers Warns Fed on 1970s-Style Mistake With CPI Set to Slow

Close sticky video

Breadcrumb Trail Links PMN Business Former Treasury Secretary Lawrence Summers said he’s concerned that a slowing in headline inflation in upcoming data will prompt the Federal Reserve to conclude its policies are working, when much more action is in fact needed. Author of the article: Bloomberg News Christopher Anstey ivfia)s47){ihg6xzrc]k0fn_media_dl_1.png Bloomberg RSS Article content (Bloomberg) … Read more

Summers warns of ‘economic distress’ as Fed’s Powell holds out hope

“Unless we have a set of very surprising and positive developments,” Summers told POLITICO, “we’re not likely to see the inflation rate come all the way down to [the Fed’s] target without there being some level of meaningful economic distress.” Summers, who was also a top adviser in the Obama White House, has derided earlier … Read more

From Pizza to Dip, Chips and Popcorn, Pickle Is Summer’s Big Flavor

In May, Meg and Maddie Antonelli, a mother-and-daughter duo who review new food products on TikTok, filmed themselves in their car in a Florida grocery store parking lot. Meg held up a container of powdered dill pickle seasoning from Sam’s Club; Maddie, a bag of Goldfish Original crackers. “Goldfish, if you’re seeing this, I think … Read more

$24 guacamole and $21 watery cocktails: Wannabe hotspot is summer’s biggest ripoff

It was supposed to be one of this summer’s hottest spots, but it’s leaving customers cold. The opening of Gitano Island — an offshoot of a popular bar and restaurant in Tulum that has long had sceney seasonal pop-ups in downtown NYC — was breathlessly anticipated. Founder James Gardner told The Post he was transporting … Read more

Former Obama economic adviser Larry Summers warns a ‘very high likelihood’ for a recession

NEWYou can now listen to Fox News articles! A chance of a recession has become even more likely, former Treasury Secretary Larry Summers explained on Sunday. On CNN’s “Fareed Zakaria GPS,” Zakaria spoke with Summers on the upcoming release of America’s second quarter GDP data next week. With the first quarter GDP showing economic contraction, … Read more